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Other news in brief

Tax news in brief 18 Jan 2019

Also on home.kpmg

Finance Bill 2018-19 completed its passage through the House of Commons on 8 January 2019 and had its first reading in the House of Lords the following day. All final stages in the House of Lords are now scheduled to take place on 4 February 2019. The planned date for Royal Assent has not yet been published.

More and more technologies are emerging with the potential to manage the complexities of the tax system, to the point where all taxpayers will have to do is press a button to meet their obligations. The Office of Tax Simplification (OTS) paper looks at both the challenges and the opportunities posed by these technologies.

HMRC have reported that a new Government taskforce has been set up to tackle economic crime. The Economic Crime Strategic Board, chaired by the Home Secretary and the Chancellor, will meet twice a year to discuss strategy on fraud, bribery, corruption and money laundering. The board is made up of senior executives from key banking institutions and senior representatives from UK Finance, the National Crime Agency and other professional authorities in the UK. The first meeting was held on 14 January.

David Ferbrache, KPMG in the UK’s Chief Technology Officer in Cyber Security practice, highlights 10 cyber security trends we can expect to see in 2019.

Insurance scammers and rogue tradesmen have helped to drive £1.2 billion in UK fraud during 2018 with the number of fraud cases reaching courts in the UK rising by 78 percent according to research by KPMG UK’s Forensic practice.

KPMG’s Sports Advisory practice have published the latest European Champions Report 2019 detailing that top European football clubs are growing operating revenues by expanding their commercial activities, despite growing staff costs.

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